Region: Philadelphia
Industry: Life Sciences,Healthcare
Service Line(s): Risk Management Services
Eliminated numerous material weaknesses and deficiencies to ensure Sarbanes-Oxley compliance.
Company Background:
Isolagen Inc. is a biotechnology company focused on developing emergent, novel skin and tissue rejuvenation technology for application in certain aesthetic and therapeutic markets.
Business Challenge:
With a full relocation of the Company to the East Coast, and a new senior management team in place, Isolagen needed help during Year 2 of its Sarbanes-Oxley compliance program to eliminate deficiencies from the previous year.
AC Lordi Consulting Solution:
AC Lordi reviewed and recommended a complete revamp of the company’s Sarbanes-Oxley compliance program. We implemented our Sarbanes-Oxley methodology, identified key controls, updated process documentation, tested key controls, worked in conjunction with the company’s external auditors, and reported our findings to the Company’s new management team. Our proven evaluation approach provided Isolagen management with a clear picture of the company’s risk profile including critical areas, process flows, and control points. We also managed the compliance controls and reporting impacts of the closure of a facility in the United Kingdom and the integration of a recently-acquired U.S. operation.
Value Delivered:
With AC Lordi’s assistance, Isolagen not only was compliant with SOX regulations by the end of Year 2, but over the course of the first two years working with us was able to eliminate all material weaknesses and significant deficiencies. By implementing our methodology and building up a strong rapport with Isolagen management, AC Lordi was able to transform the company’s risk profile, dramatically streamline its compliance program, and create a more efficient and informed process. Our phased approach to compliance ensured costs and completion times were minimized.